What are the responsibilities and job description for the COMPLIANCE OFFICER position at THE SHELBY STATE BANK?
Position Description:
Responsible for strategic direction of compliance, fair lending and CRA activities. Contributes to planning, budgeting, organizing, executing and evaluating of all risk management activity including audit and compliance.
In consultation with Senior Management, develop short-term and long-term goals for the Banks compliance and fair lending functions and reporting to Board Audit Committee.
Report results, recommendations, management responses, and monitor status of actions to the Audit Committee.
Serve as a management contributor to the Boards Audit Committee.
Manage / coordinate the banks management Compliance Committee.
Coordinate the external compliance reviews, assisting third parties as liaison with staff and management.
Understand organizations assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives so can be a resource to help in the development of appropriate regulatory compliance, CRA, and fair lending strategies to achieve financial results with appropriate risk level.
Develop, implement, and ensure compliance with policies established for fair lending and CRA activities and proper training with the Board and employees.
Communicate policies and practices and oversee training to assure adequate understanding of risk and compliance with policies and regulations.
Develop risk assessments in coordination with department management and third-party audit / compliance vendors.
Maintain fair lending risk assessments and CRA community impact documentation.
Oversee HMDA / CRA data collection and reporting.
Coordination with marketing to ensure proper printed materials are in compliance.
Facilitate coordination of consumer complaints.
Maintain knowledge of the Banks regulatory environment and compliance issues.
Oversee the banks online compliance training program.
Additional responsibilities as assigned.
Be familiar with and comply with the provisions of the AML/CFT and USA PATRIOT Act as they relate to the functions of this position. Assist where need with required reporting related to those acts and reports any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.
Be familiar with and comply with all federal and state banking regulations as applicable.
Responsible for strategic direction of compliance, fair lending and CRA activities. Contributes to planning, budgeting, organizing, executing and evaluating of all risk management activity including audit and compliance.
In consultation with Senior Management, develop short-term and long-term goals for the Banks compliance and fair lending functions and reporting to Board Audit Committee.
Report results, recommendations, management responses, and monitor status of actions to the Audit Committee.
Serve as a management contributor to the Boards Audit Committee.
Manage / coordinate the banks management Compliance Committee.
Coordinate the external compliance reviews, assisting third parties as liaison with staff and management.
Understand organizations assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives so can be a resource to help in the development of appropriate regulatory compliance, CRA, and fair lending strategies to achieve financial results with appropriate risk level.
Develop, implement, and ensure compliance with policies established for fair lending and CRA activities and proper training with the Board and employees.
Communicate policies and practices and oversee training to assure adequate understanding of risk and compliance with policies and regulations.
Develop risk assessments in coordination with department management and third-party audit / compliance vendors.
Maintain fair lending risk assessments and CRA community impact documentation.
Oversee HMDA / CRA data collection and reporting.
Coordination with marketing to ensure proper printed materials are in compliance.
Facilitate coordination of consumer complaints.
Maintain knowledge of the Banks regulatory environment and compliance issues.
Oversee the banks online compliance training program.
Additional responsibilities as assigned.
Be familiar with and comply with the provisions of the AML/CFT and USA PATRIOT Act as they relate to the functions of this position. Assist where need with required reporting related to those acts and reports any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.
Be familiar with and comply with all federal and state banking regulations as applicable.